Buying with a Credit Card

[Silver-Bolt]

OMG don't pay for a car with a credit card, your APR will be terrible (unless you miraculously get a 3% or less)

Your APR is only an issue if you don't pay it off in 30 days. My CC will see $30k-$40k/ month (business) but carries a zero balance. I can pretty much fly first class anywhere on the planet for the rest of my life on miles. And then Covid hit. lol

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[BuckinT29]

I thought dealers have caps on CC purchases or don’t

I tried doing that with my Ducati Panigale V2 and said debit only!!

 

[vrtical]

With the Ford Pass Visa card, they mention this:

"Make your first purchase of a $3,000 vehicle down payment".

Maybe that is the limit before they charge any fees...

there is also the ability to purchase the accessory's, but not sure what the cap is at the moment and those most likely willl be on a 6 month promo 0%

 

[Scohin]

Your APR is only an issue if you don't pay it off in 30 days. My CC will see $30k-$40k/ month (business) but carries a zero balance. I can pretty much fly first class anywhere on the planet for the rest of my life on miles. And then Covid hit. lol

Right, but when reading the OP I was thinking they meant financing. I rarely ever fly anywhere myself so I don't but into the whole flyer miles, points etc.

 

[AZHUND]

I don't see a dealer walking away from $1200 ($40k car) so you can pay by credit card. That would be out of their pocket. Unless you are paying MSRP. Then, they might do it out of mercy.

That is true but I am guessing the fees don't out of the performance metrics for some finance departments so they don't "care" if their owner loses some pocket change. Plus probably isn't that common to have someone do that... The one that offered it to me also said a personal check would be fine (for a ~$40k purchase with no trade in) but I ate the wire transfer fees instead as I felt that was putting too much risk on the dealership to exchange a piece of paper for a vehicle. Still thanking this thread for reminding me of losing an international flight's worth of points in that purchase (sarcasm).

 

[schlumpj]

I wonder what the cap is @Granger Ford

 

[VGK_Fan]

I've thought about this too. I've got the credit limit. I've got the cash on hand. Figure I put the whole thing on the card, collect points/cash back on it, pay it off that month.

I'm not super educated on the subject, but this seems like a good idea given my parameters. I've been told that some dealers even take off money if you finance through them instead of a CC. It was framed to me this way because they have to pay a fee to the CC companies, so they'd rather just give that difference to the customer. But, this is hearsay.

I did this buying a CPO Accord for my daughter. Put around $20,000 on the card with no additional fees from the dealer. I paid it off a week later and had my daughter make payments to me. Got the Southwest Airlines companion pass for another year! Just wish I had someplace to go

 

[Granger Ford]

I wonder what the cap is @Granger Ford

$2000 I have that in another thread buried somewhere in the Forum...

 

[den_jkur]

Most dealerships I've bought at have limited it to 3k, then the rest I pay out of my bank account. AGreed they pay fees in the range of 3 percent so they usually dont allow you to do this. They could just let you pay cash and give you 3 percent off the vehicle purchase price....It would be the same.

This has been my experience too..

 

[Tor148]

$2000 I have that in another thread buried somewhere in the Forum...

You also said that you could use a cc for the full price it would be a 2% surcharge, correct?

 

[Johnny Mo]

Unless you have an AMEX black card this will not be allowed and is an INCREDIBLY bad idea.

 

[Tor148]

Unless you have an AMEX black card this will not be allowed and is an INCREDIBLY bad idea.

Not sure why you say that, black card actually is not that great. More a status symbol IMHO. With my business platinum card it is actually worth it.

 

[Johnny Mo]

Not sure why you say that, black card actually is not that great. More a status symbol IMHO. With my business platinum card it is actually worth it.

A platinum card may get you more rewards but no dealer is gonna let you buy a car with a platinum card...my son has an add on platinum from my acct, he ain't getting a car with it. I wasn't talking about making it worth it, I'm talking about what a dealer will allow

 

[Tor148]

A platinum card may get you more rewards but no dealer is gonna let you buy a car with a platinum card...my son has an add on platinum from my acct, he ain't getting a car with it. I wasn't talking about making it worth it, I'm talking about what a dealer will allow

This is a quote from granger fords post, do a search for "credit card" with member name "granger ford"
"If you are wanting to put the whole vehicle on credit card(s) there will be a 2% surcharge for that."
So there is there is at least one one that will.............

 

[Johnny Mo]

This is a quote from granger fords post, do a search for "credit card" with member name "granger ford"
"If you are wanting to put the whole vehicle on credit card(s) there will be a 2% surcharge for that."
So there is there is at least one one that will.............

And I said if you were allowed to it would be an incredibly bad decision financially.

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